Thank you to our partners at Inclusive and CDBA for sharing data on CDFI Bank and CDFI Credit Union branch locations. In addition, about 100 of our CDFI Stories come from OFN’s story database.
I’ve been a member of a CDFI for 25 yrs and would never go back to a traditional bank, due to the good works that I’ve seen done by CDFI’s. I was also a board member for a few years at one, so I know the inner workings and understand the community missions they take on. My children and I have had a stable home for the past 18 years, partly due to the credit building assistance we received from a CDFI.
I’m a contract CFO for multiple smaller CDFIs around the US who are supporting those in our communities that are starting small businesses, trying to get financing to buy a vehicle to get to a job or earn a living in the gig economy, and small developers bringing affordable housing onto the market. No one else is making this financing available. I work to see thriving communities here in the US that make our local economies vibrant and healthy. The CDFI Fund makes that possible.
I support CDFIs because they serve as economic first responders in their communities. Native and consumer loan funds, in particular, are instrumental in lifting our most vulnerable populations out of poverty. These CDFIs provide essential financial services and resources, offering a lifeline to individuals and families who might otherwise be excluded from traditional banking systems. By empowering them to become bankable again, CDFIs help create pathways to financial independence and long-term prosperity.
CDFI funding to nonprofits for construction returns more money into the community through economic activity. It’s very important we keep providing this capital in Indiana.